Economy consultation
Budget: $10 – $30 USD
-Critically assess the view that an understanding of the principles of 'scientific' decision-making is fundamental to the success of a modern economy.
-If consumers expect the price of some good to rise next week, then we generally observe the price of the good rising this week. Explain this fact using a graph with proper labelling.
-'Opportunity cost is both subjective and speculative. As such the concept of opportunity cost has no place in the scientific decision making process.'
-Would a research study on the effects of playing online games on children’s cognitive development be considered a positive or normative statement?
-If consumers expect the price of some good to rise next week, then we generally observe the price of the good rising this week. Explain this fact using a graph with proper labelling.
-'Opportunity cost is both subjective and speculative. As such the concept of opportunity cost has no place in the scientific decision making process.'
-Would a research study on the effects of playing online games on children’s cognitive development be considered a positive or normative statement?